Recession signal: gold prices close to all-time highs
Quotes for an ounce of gold on spot contracts rose to $2055 today. This is the closest to the record high of $2070 recorded in 2020.
"The changes in gold prices are seen against the backdrop of, on the one hand, an increased likelihood of a recession and, on the other hand, falling U.S. Treasury bond yields.
It is also noteworthy that the dollar index has recorded annual lows at times when gold has risen sharply. That is, risks and concerns are at the forefront of the decisions and actions of investors and speculators. - Economist Otabek Bakirov noted.
According to most forecasts, gold prices will remain in an upward trend for the next 3-6 months due to lack of high uncertainty as to whether the Federal Reserve will continue to tighten or lower interest rates.
It should be noted that the daily selling prices of measured gold bars set by the Central Bank also reached new highs today. In particular, the sale price of 50-gram bullion rose to 38,768,000 soums.